With news of a cooling market, Buyers have become more cautious in making one of the biggest decisions of their life. When the Ontario Government announces measures they are putting into place to cool down this hot real estate market, it changed the mindset of many Buyers, even though these measures may not even directly affect the current market. Buying a home for sale in 2017 is still a really smart idea and here are 15 perfectly good reasons why.
- Appreciation — homes for sale across Ontario is on the rise and will continue to be for many years (if not forever).
- Equity — every cent you put into your mortgage is another penny in your pocket.
- Savings — your mortgage is almost a forced savings account that you can draw on later.
- Security — owning a home gives you much more security than renting (as long as you are making your payments, you will never get evicted).
- Freedom — owning a home means you make the rules (not your parents and not your landlord).
- The rates are going to rise — which means you will pay more interest on your home if you buy later.
- Inventory could shrink further — we truly do not know what the real estate market is going to do, but we do know that increased immigration is making the inventory pool smaller and smaller.
- Home prices are still rising — waiting even a year could cost you thousands of dollars.
- Pride of ownership — your home is yours and that means something.
- Your credit will improve — owning a home makes you a better candidate for loans.
- Rent prices are going up — along with the rise in home prices, rent is going up too.
- Peace of mind — owning your own home can give you a good peace of mind knowing you made it into the market before it becomes unattainable.
- You can get more pets — this is not for everyone, but owning your own home means you can add to your family when you want to.
- You can have kids too — instead of pets, kids might be on your to-do list and by owning your own home, you will have the room to house your kids.
- You want to — owning a home is many people's dream, so why wait, buy a home because you want to!
If you need help finding that perfect home of your dreams in Grey Bruce and South Georgian Bay, check out these awesome listings on the current real estate market. There are homes and condos valued under $400,000 that would perfectly suit a first-time homebuyer.
